Haiti economic stabilization assistance (521-0235)

Cash transfer funds will be used for the purchase of petroleum products. An equivalent amount of local currency will be jointly programmed by USAID/H and the GOH for budget support, labor-intensive public works projects, local currency costs of Mission projects, and private sector credit institutions. It is planned that this programming will be done with the newly elected government; however, depending on needs, a portion of the funds may be used to finance the operating costs of the election. In addition, 10% of the local currency will be used by USAID/H for operating expenses. The GOH agrees to ensure prompt, fair, and secure elections and a successful transition to an elected civilian government. The GOH will also covenant to: promote financial stabilization, including appropriate actions in support of modification of and compliance with International Monetary Fund requirements; continue to support exchange regime liberalization reforms adopted earlier this year; continue to support trade liberalization reforms adopted in 1986 and 1987 and further liberalization of selected commodities; and continue support for free market pricing and the avoidance of price controls.